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[originunknown]

Patrician eight-million-FT-share private placement

2008-05-16 16:26 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement.

Number of shares: Eight million flow-through shares

Purchase price: 10 cents per flow-through share

Warrants: Eight million non-flow-through share purchase warrants to purchase eight million non-flow-through shares

Warrant exercise price: 15 cents until May 16, 2010

Hidden placees: Two

Agent's fee: 480,000 non-flow-through units at no additional cost and 800,000 agent's options exercisable at 10 cents per agent option for non-flow-through units payable to Limited Market Dealer Inc. Each non-flow-through unit is exercisable into one non-flow-through share and one non-flow-through warrant. Each non-flow-through warrant is exercisable into one non-flow-through common share at a price of 15 cents until May 16, 2010.